Piedmont Office Realty Trust Sets New 52-Week High at $19.84 (PDM)
Shares of Piedmont Office Realty Trust (NYSE:PDM) hit a new 52-week high during mid-day trading on Wednesday , American Banking News.com reports. The stock traded as high as $19.84 and last traded at $19.81, with a volume of 300,230 shares trading hands. The stock had previously closed at $19.74.
A number of research firms have recently commented on PDM. Analysts at RBC Capital raised their price target on shares of Piedmont Office Realty Trust from $18.00 to $20.00 in a research note on Friday, August 15th. They now have an “underperform” rating on the stock. Analysts at Morgan Stanley downgraded shares of Piedmont Office Realty Trust to an “underweight” rating in a research note on Tuesday, July 15th. They now have a $18.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Piedmont Office Realty Trust presently has an average rating of “Hold” and an average target price of $19.00.
The stock’s 50-day moving average is $19.35 and its 200-day moving average is $18.16. The company has a market cap of $3.066 billion and a price-to-earnings ratio of 44.46.
Piedmont Office Realty Trust (NYSE:PDM) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. During the same quarter in the previous year, the company posted $0.35 earnings per share. On average, analysts predict that Piedmont Office Realty Trust will post $1.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 19th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Wednesday, August 27th.
Piedmont Office Realty Trust, Inc (NYSE:PDM) is a real estate investment trust (REIT).
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